London: Elite Boutique vs MS Summer Offers
Hi guys,
Been fortunate enough to receive offers from MS IBD/GCM and an elite boutique (think Lazard/Rothschild) for London Summer Analyst positions.
Have a serious dilemma between the two since with MS I have no way of determining my desk (could easily end up in capital markets which I am not really keen on) whilst the boutique is a pure financial advisory (M&A/Restructuring) internship.
Need advise with regards to future full-time conversion chances, exit opps to other industries, general prestige/brand, slightly more long-term Business school chances.
Cheers!
Go for MS/GS. Not even worthy of a discussion.
Go with Lazard.
He's looking at exit opps, Lazard M&A/restructuring can place him either at a BB (associate level) or directly buy-side/B-school. Guy said he doesn't want to end in CM, there's always that risk.
Rothschild is extremely strong in EU. I'd take it over LAZ/MS.
are u at rothschilds? its good, but laz has the better name, MS too
Also bear in mind, Roths only hire from their intern classes.
laz and rothschild are two different stories in EU. I'd go with Rothschild over anybank in EU and MS/GS would be the next on my list.
Obviously MS
I'm shocked you weren't hired by MS either in GCM or IBD (usually they let you know since the 2 are quite different). If you're keen on staying in London then I would say Rothschild hands down- at least as prestigious a name as MS in London and at a desk you know you'll like. I think the brand name MS is much stronger internationally, however, particularly in the US so if you have intentions of working over here then I would have to go with MS.
Also- in the off chance you choose MS and end up in Capital Markets- still will have equally good chance to get into a top B-School and exit opps really will depend which desk you're on (though still could be good). At the end of the day you have 2 excellent options, and you can't really go wrong either way.
Although I pretty much agree with you recommending Rothschild, I just don't see how you are qualified enough to give this advice. I usually don't piss on other people's legs, but a few days ago you opened threads like the one where you were asking if it is ok to apply to more than 5 banks at the same time (obviously yes btw), and now you're giving advice which bank to choose in London?
OP: If it is LAZ, I would go for MS. In case it is Rothschild, then it's a tough decision. Which team did you like more? Rothschild is extremely strong in Europe and since you are set on M&A and don't want to be placed in CM, maybe you should just go with Rothschild and never look back. You can't go wrong with RS or MS in my opinion.
I think it is fair to say that you can give advice on one topic while asking for advice on another, wouldn't you say?
Unsure how questions about general recruiting would indicate any lack of knowledge as to the presence and reputation of Rothschild in Europe.
why? I would make the call any day getting stuck in ECM/DCM is pretty horrible if you're looking to go to PE/HF and you can always fall back on your other offer...
Given the extreme variation in responses, not sure my decision has been made any easier......
MS hires IBD & GCM together for their summer analyst class so I have no way of knowing what area I will be placed until nearer summer. I did really like the boutique feel and the people I met there so I guess will be leaning that way - might take up the suggestion and drop MS an email though I think that will be futile.
Leaving out the exit opps, I don't see myself as a GCM guy especially after seeing how bad IPOs can go/relative uncertainty in equity markets and MS's relative weakness in DCM.
RE - Lazard/Rothschild's position: surely they have both worked on big deals recently (ABInBev/Nestle/Vodafone) so they must be doing something right. Dream situation would still be MS M&A but I am thinking many with a general IBD/GCM offer will be opting for that.
both laz and roth rep are still excellent, not sure what ppl in this thread are on about ppl on the buyside rly couldnt give a fuck which m&a shop just did or did not lose a few big mandates in a row, most ppl hiring are years removed from banking so their entire perception of prestige will lag reality by years anyway.
I can't comment on rx but their m&a practice is still v. solid.
OP, remember that Roths (if this is who we're talking about) has a debt advisory and ecm (just because they dont underwrite doesn't mean it isn't part of their business) that you can be placed into too.
yeah you might get stuck in roth ecm for a year but they do a yearly rotation so you will get into M&A/RX thereafter, its not optimal but whatever
if bankers had all this creative advice and strategy they wouldn't waste their time in banking. some of the top senior guys in banking are impressive (i.e. those that came before pe was the cool thing to do) and respectable but almost everyone else is a joke.
but yes there is clearly a difference betw. high deal flow and high quality deal flow. either way your key take-away from banking should be a very strong modelling and accounting nd finance skillset and that's about it. the buy-side will beat all the lies and bullshitting you have learned in banking out of you quickly.
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